How the interest rate and repayments work

Offset mortgage has a variable rate — it can change as the market does.

Interest is calculated daily, so the more you have in your accounts day-to-day, the more you’ll save.

You can choose to have part of your home loan on a fixed interest rate and part of it on offset. If you decide you want to fix all of your home loan, we’ll just de–link your accounts from your home loan and they’ll go back to earning credit interest as usual.

Make repayments the same way you would on a standard variable loan.

Make extra repayments whenever you like without paying a lump sum repayment fee.

Best for people who:

like to have savings on hand

keep plenty of cash across their accounts day to day.

What next?

For more certainty about what rate you’ll pay, you can put some of your loan in Offset, and some on a fixed rate. Or if you’re ready to apply, click here.

Offset Mortgage is not available to companies, trusts or sole traders. A customer may have more than one Offset Mortgage.